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Parson - Chp 2 Exploring the World of Buisness

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show A country where people are free to produce the goods and services they chose.  
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show A buisness that earns more money than they spend.  
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Loss   show
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Entrepreneurs   show
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Capital   show
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show A company that provides a service for a fee.  
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Merchandising business   show
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Manufacturing business   show
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Sole Proprietorship   show
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Partnership   show
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Corporation   show
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show Legal permission given to a corporation that gives it certan rights and privileges. It spells out the rules under which the corporation is to operate.  
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show A system designed to collect, document, and report on financial transactions affecting the business.  
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show Accounting information which is processed by hand.  
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Computerized Accounting System   show
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Genneral Accepted Accounting Principles   show
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show Summarized information about the financial status of a business  
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show Reporting information to external users  
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show Reporting information to internal users.  
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Business Entity   show
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Accounting Period   show
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show An assumption that the business will continue to operate unless it is clear that it cannot survive.  
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Created by: yparson
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